Cash and Cash Equivalents, Investments, and Funds Held for Customers (Tables)

6 Months Ended

Jan. 31, 2022

Cash and Cash Equivalents, Investments and Funds Held for Customers [Abstract]

Cash and cash equivalents, investments and funds held for customers by balance sheet classification

The following table summarizes our cash and cash equivalents, investments, and funds held for customers by balance sheet classification at the dates indicated.

	January 31, 2022				July 31, 2021
(In millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Classification on condensed consolidated balance sheets:
Cash and cash equivalents	$	1,257	$	1,257	$	2,562	$	2,562
Investments	158		157		1,305		1,308
Funds held for customers	378		375		456		457
Total cash and cash equivalents, investments, and funds held for customers	$	1,793	$	1,789	$	4,323	$	4,327

Cash and cash equivalents, investments and funds held for customers by investment category

The following table summarizes our cash and cash equivalents, investments, and funds held for customers by investment category at the dates indicated.

	January 31, 2022				July 31, 2021
(In millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Type of issue:
Total cash, cash equivalents, restricted cash, and restricted cash equivalents	$	1,433	$	1,433	$	2,819	$	2,819
Available-for-sale debt securities:
Municipal bonds	—		—		37		38
Corporate notes	327		324		1,397		1,400
U.S. agency securities	33		32		70		70
Total available-for-sale debt securities	360		356		1,504		1,508
Total cash, cash equivalents, restricted cash, restricted cash equivalents, and investments	$	1,793	$	1,789	$	4,323	$	4,327

Available-for-sale debt securities classified by the stated maturity date of the security

The following table summarizes our available-for-sale debt securities, included in investments and funds held for customers, classified by the stated maturity date of the security at the dates indicated.

	January 31, 2022				July 31, 2021
(In millions)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	102	$	102	$	551	$	553
Due within two years	189		187		550		551
Due within three years	68		66		398		398
Due after three years	1		1		5		6
Total available-for-sale debt securities	$	360	$	356	$	1,504	$	1,508

Schedule of funds held for customers

The following table summarizes our funds held for customers by investment category at the dates indicated.

(In millions)	January 31, 2022		July 31, 2021
Restricted cash and restricted cash equivalents	$	176	$	257
Restricted available-for-sale debt securities	199		200
Total funds held for customers	$	375	$	457

(In millions)	January 31, 2021		July 31, 2020
Restricted cash and restricted cash equivalents	$	226	$	255
Restricted available-for-sale debt securities	200		200
Total funds held for customers	$	426	$	455